The Future of Cryptotokens

Abstract In this chapter, the authors study how cryptotoken issuance, also referred to as initial coin offerings and security token offerings, may disrupt funding markets such as venture capital, crowdfunding, and private equity. The authors discuss the necessary infrastructure to support this new a...

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Bibliographic Details
Published inDisruptive Innovation in Business and Finance in the Digital World Vol. 20; pp. 167 - 187
Main Authors Biasi, Joey, Chakravorti, Sujit
Format Book Chapter
LanguageEnglish
Published United Kingdom Emerald Publishing Limited 21.10.2019
Subjects
Accounting and Finance
venture capital
security token offerings
financial intermediation
Initial coin offering
cryptotokens
financial innovation
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Summary:Abstract In this chapter, the authors study how cryptotoken issuance, also referred to as initial coin offerings and security token offerings, may disrupt funding markets such as venture capital, crowdfunding, and private equity. The authors discuss the necessary infrastructure to support this new asset class. The authors analyze the market evolution in terms of volatility, global reach, news events, and types of industries that are issuing or considering to issue tokens. The authors discuss some specific token offerings to highlight lessons learned. the authors summarize the regulatory landscape and challenges going forward. This market crashed in terms of market capitalization at the end of 2018. However, this new asset class along with the underlying technology holds great promise to disrupt various types of intermediaries if adequate financial and regulatory infrastructures are developed.
ISBN:9781789733822
1789733820
ISSN:1569-3767
DOI:10.1108/S1569-376720190000020018